Price Action Report: Alphabet Inc Hit 52-Week High

October 19, 2016October 19, 2016Michael Collier

The stock of Alphabet Inc (NASDAQ:GOOG) hit a new 52-week high and has $1052.32 target or 31.00% above today’s $803.30 share price. The 5 months bullish chart indicates low risk for the $572.20B company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $1052.32 price target is reached, the company will be worth $177.38B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.28 million shares traded hands. Alphabet Inc (NASDAQ:GOOG) has risen 8.04% since March 16, 2016 and is uptrending. It has outperformed by 2.49% the S&P500.

Alphabet Inc (NASDAQ:GOOG) Ratings Coverage

Out of 28 analysts covering Google Inc. (NASDAQ:GOOG), 24 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 86% are positive. Google Inc. has been the topic of 41 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Alphabet Inc (NASDAQ:GOOG) earned “Hold” rating by Pivotal Research on Friday, October 23. The firm has “Hold” rating given on Monday, August 10 by Stifel Nicolaus. On Friday, October 23 the stock rating was maintained by Jefferies with “Buy”. The firm earned “Buy” rating on Thursday, September 24 by Citigroup. The firm earned “Buy” rating on Friday, October 23 by Canaccord Genuity. As per Monday, December 21, the company rating was maintained by Pacific Crest. Susquehanna initiated Alphabet Inc (NASDAQ:GOOG) rating on Monday, August 10. Susquehanna has “Positive” rating and $800 price target. Axiom Securities maintained Alphabet Inc (NASDAQ:GOOG) on Tuesday, August 11 with “Buy” rating. The stock of Alphabet Inc (NASDAQ:GOOG) has “Buy” rating given on Friday, October 23 by Needham. On Tuesday, February 2 the stock rating was maintained by Needham with “Buy”.

Insitutional Activity: The institutional sentiment increased to 0.88 in 2016 Q2. Its up 0.57, from 0.31 in 2016Q1. The ratio is positive, as 8 funds sold all Alphabet Inc shares owned while 9 reduced positions. 4 funds bought stakes while 11 increased positions. They now own 216,684 shares or 9.70% less from 239,969 shares in 2016Q1.
Hikari Pwr Limited accumulated 34,704 shares or 2.77% of the stock. Rothschild Capital Prtn last reported 1.31% of its portfolio in the stock. Moreover, Nelson Roberts Advisors Ltd Liability has 2.51% invested in Alphabet Inc (NASDAQ:GOOG) for 9,638 shares. Aft Forsyth Sober Ltd Co holds 100 shares or 0.47% of its portfolio. Columbia Asset Management, a Michigan-based fund reported 3,817 shares. M Kraus & has 4,292 shares for 2.12% of their US portfolio. Wills Fincl Grp Inc last reported 587 shares in the company. Nadler Grp Inc Incorporated holds 0.21% or 724 shares in its portfolio. Huntington State Bank last reported 0.38% of its portfolio in the stock. Grand Jean reported 16,696 shares or 4.99% of all its holdings. Spero holds 321 shares or 0.28% of its portfolio. Parametric Risk Advisors Ltd Limited Liability Company holds 0.59% of its portfolio in Alphabet Inc (NASDAQ:GOOG) for 12,863 shares. Bridges Invest Management last reported 0.84% of its portfolio in the stock. The New York-based Robshaw Julian Incorporated has invested 3.28% in Alphabet Inc (NASDAQ:GOOG). Moreover, Levy Harkins And Inc has 4.2% invested in Alphabet Inc (NASDAQ:GOOG) for 13,413 shares.

More notable recent Alphabet Inc (NASDAQ:GOOG) news were published by: Investorplace.com which released: “Go Long Alphabet Inc (GOOG, GOOGL) Stock For the Best Price — Free” on October 18, 2016, also Fool.com with their article: “Alphabet Inc. Earnings: Mark Your Calendar” published on October 10, 2016, Profitconfidential.com published: “GOOG Stock: Alphabet Inc. Delivering Ambitious Moves” on October 07, 2016. More interesting news about Alphabet Inc (NASDAQ:GOOG) were released by: Marketwatch.com and their article: “Exclusive: Head of Google drone initiative leaving Alphabet” published on October 18, 2016 as well as Fool.com‘s news article titled: “New Products Point to Increasingly Diverse Opportunities for Alphabet Inc” with publication date: October 06, 2016.

GOOG Company Profile

Alphabet Inc., incorporated on July 23, 2015, is a holding company. The Firm holds interests in Google Inc. (Google). The Company’s divisions include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company. The Company’s technical infrastructure and Virtual Reality are also included in Google segment. Google segment is engaged in advertising, sales of digital content, applications and cloud services, as well as sale of Google branded hardware. The Other Bets segment consists of various operating divisions and includes businesses, such as Access/Google Fiber, Calico, Nest, Verily, GV, Google Capital, X and other initiatives. Other Bets segment is engaged in the sale of Nest hardware products, Internet and television services through Google Fiber, and licensing and research and development (R&D) services through Verily. Google offers products, including Gmail, which is an e-mail service; Chrome, which is a browser, and Google Play, which allows access to movies, books, music and application on various devices. Google offers platforms, including Chrome OS and Android mobile operating system.